The Federal Bureau of Investigation and the Securities and Exchange Commission are reviewing trades by SAC Capital Advisors LP in Brisbane drug developer InterMune Inc. and Weight Watchers International Inc., according to news reports.

Bloomberg cited a "person with knowledge of the probe" as saying the government is looking at trades in InterMune (NASDAQ: ITMN) that SAC Capital made in the first half of 2010. Reuters said its information came from "one of the people familiar with the probes."

SAC, run by billionaire Steven A. Cohen, bought 1.9 million shares of InterMune in first-quarter 2010 and held 10,983 shares at the end of the second quarter, according to data by Bloomberg. During that time, InterMune's stock soared after its drug for the deadly lung-scarring disease idiopathic pulmonary fibrosis, or IPF, scored a slim but favorable review from the Food and Drug Administration earlier than expected. Two months later, the stock sagged when the drug, called Esbriet, was rejected by the FDA.

Neither SAC nor Cohen have been accused of wrongdoing related to the InterMune and WeightWatcher trades. When asked Tuesday morning about the probe, an InterMune spokesman said by email that the company "has made no comment on this topic."

The supposed investigation follows SAC telling clients Nov. 28 that it had received a "Wells notice" -- a notice that federal authorities have found wrongdoing that could result in civil suits -- from the SEC regarding insider trading by an ex-portfolio manager in two other stocks, Elan Corp. and Wyeth LLC.

Actimmune was approved at the time to treat severe osteopetrosis and chronic graulomatous disease but not IPF.

Doctors are allowed to use drugs for unapproved uses, but companies have been barred from marketing them for so-called off-label uses.

A second charge against Harkonen of misbranding, for a release sent directly to doctors and IPF patients, was dropped.

Harkonen left InterMune in June 2003.

InterMune entered a deferred prosecution agreement in October 2006, which included a payment of $36.9 million to settle criminal charges and civil liability claims that Actimmune was illegally marketed and caused false claims for reimbursement from government health programs.

Actimmune was sold in June to Ireland's Vidara Therapeutics International Ltd. for $55 million and royalty payments over two years.